Friday, April 30, 2010

"S&P on Goldman Stock: ‘Sell’" (GS)

Following up on BofA Merrill’s downgrade from “buy” to neutral, S&P equity analysts cut the gold-plated investment bank to “sell” from “hold.” They write:

The Wall Street Journal published an unconfirmed report suggesting that federal prosecutors are investigating whether the firm or its employees committed securities fraud in its mortgage trading business....MORE